Dundee Precious Metals (TSE:DPM) Reaches New 1-Year High - Still a Buy?

Key Points

• Dundee Precious Metals' stock reached a new 52-week high of C$28.56, closing at C$28.20 with a trading volume of 178,043 shares.
• Analysts have raised their target prices, with Scotiabank setting a new target of C$28.50 and multiple firms giving the stock ratings of "Strong Buy" and "Buy."
• The company announced a quarterly dividend of $0.04 per share, which represents a dividend yield of 0.6% and an annualized payout of $0.16.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$28.56 and last traded at C$28.20, with a volume of 178043 shares changing hands. The stock had previously closed at C$27.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotiabank raised their target price on Dundee Precious Metals from C$26.50 to C$28.50 and gave the stock an "outperform" rating in a research note on Thursday. Stifel Canada upgraded Dundee Precious Metals to a "strong-buy" rating in a research note on Thursday. TD Securities lifted their target price on Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. CIBC boosted their price target on Dundee Precious Metals from C$23.00 to C$25.00 in a research report on Monday, June 16th. Finally, Canaccord Genuity Group boosted their price target on Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$23.97.

Dundee Precious Metals Trading Up 1.9%

The business has a 50 day moving average of C$23.73 and a 200-day moving average of C$20.79. The stock has a market cap of C$6.24 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 0.04 and a beta of 0.79.

Dundee Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Dundee Precious Metals's payout ratio is 11.51%.

Dundee Precious Metals Company Profile

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. The company primarily explores for gold, copper, and silver deposits. It holds a portfolio of projects located in Bulgaria, Namibia, Serbia, and Ecuador.

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